ETF Securities sets launch date for Bitcoin ETF
ETF Securities will launch its first spot Bitcoin ETF this week, in partnership with European cryptocurrency manager, 21 Shares.
The Bitcoin (EBTC) and Ethereum (EETH) ETFs would launch on 27 April on the Cboe Australia exchange.
The firm had flagged it was planning a launch earlier this year after the Australian Securities and Investments Commission (ASIC) introduced a ‘crypto-asset’ category in the licensing application for responsible entities for Bitcoin and Ethereum.
Kanish Chugh, head of distribution at ETF Securities, said: “We are excited to announce that after many months of anticipation, ETF Securities will be launching Australia's first spot Bitcoin and Ethereum ETFs.
“EBTC and EETH will give investors a secure and accessible way to trade two of the leading cryptocurrencies via the regulated structure of an ETF.
“They may be used as an alpha tilts or side bets in a portfolio. They can also be bought as portfolio diversifiers, as they are completely different asset and uncorrelated to shares, bonds and commodities.”
VanEck and BetaShares had also announced plans to launch a Bitcoin ETF this year.
According to research by Roy Morgan, over one million Australians held at least one cryptocurrency.
AUTHOR
Laura Dew
Recommended for you
T. Rowe Price believes Australian growth is successfully managing to shrug off consumer weakness, but the firm’s multi-asset team is not yet positive enough to increase its underweight position.
Iress has issued an update denying the validity of “certain statements” made by an alleged threat actor, following a cyber incident last weekend.
The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.
Betashares has expanded its fixed income solutions with the launch of a new ETF offering exposure to subordinated bonds issued by the big four Australian banks.
